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Silverlong
XAGUSD. Silver will grow further!Hello dear subscribers!
The price of gold and silver performed well during the crisis.
The fall was strong, however, in a short period of time,
valuable metals were able to quickly recover after a large fall.
The price of these resources will rise even at least to the level of resistance,
there is a target.
Good luck to you!
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This idea does not provide the financial advice.
Silver Gearing Up for Next Leg Higher: Flag Target $19.70Been busy with life lately so my posts have been less often. Nevertheless, I do always keep an eye on the charts and when I spot something that requires a post I deliver. This morning I want to talk about the Silver. Remember when Silver outperformed Gold a few weeks ago? Well based on what I am seeing on the chart that may happen again in the coming week(s)! Let's take a look at the Silver chart.
Bull Flag
The everything rally continues on and next up in the rotation may be Silver (again). Since reaching its breakout peak on May 20th, Silver has been consolidating within on declining volume. The chart below is the 4-hour chart and it shows how price is consolidating above its 20 SMA. Check the strength of the CMF. Money is piling on into Silver.
Further illustrating the point made on the 4-hour chart is the daily chart above. Here notice how price is resting on a combination of 200 SMA and 10 EMA support. CMF also remains positive.
Above is perhaps the most exciting chart of all. If this bull flag is confirmed, the target price is approximately $19.70. Look how the flag target matches perfectly with the high Silver posted on September 4, 2019.
Silver is looking like a smart play heading toward the end of the week. Trade Silver with confidence. Bias: Bullish .
SILVER OUTPERFORMS in last 2 monthsThanks for viewing.
This is a wee update on an older post. What has changed recently?
- I amended my label for the upper range from "sell gold and buy silver" to "hold gold and buy silver" for a couple of reasons; 1. I hold gold mainly as a hedge against local currency and USD devaluation generally and also increasingly in light of increasingly obviously un-serviceable levels of sovereign debt / quantitative easing that started September 2019. Also 2. Because now that I have some gold, I will be unlikely to part with it just because its price is up in fiat currency terms. You don't cancel your insurance policy when times are good, neither will I sell my gold for a fiat profit. 3. These things are really hard to time and the most important factor; general loss of faith in paper assets will likely result in a significant re-pricing of gold (and silver) to much higher levels (I likely won't sell either if gold goes up 200- 400% but will reduce or stop regular purchases). While I am a big believer in silver, as borne out over the past 2 months (although there was a spike in premiums while the silver futures price dipped - which made 'buying the dip' difficult) I do not want to be a long-term holder of silver - given how volatile it is and the greater storage costs. So, silver I will sell when the G/S ratio hits some key levels.
- The economies throughout the world are in significant turmoil, a lot of mines are shuttered still (the North and South American silver miners seem in for a long-haul). Seeing as silver is primarily an industrial metal, I have been impressed with is relative performance of late. It seems that silver demand has been brought forward and is, at least, counter-acting what may be lower industrial demand. As gold hangs out between USD1650-1750 it is quite possible that a significant portion of investment demand has turned away from gold and towards silver as people may "see" more upside for silver as well as possibly more value for money.
Protect those funds everyone
Possible long XAGUSDGold and Silver are obviously in an uptrend, but IMO it is the latter that may provide a better trade.
However there is a problem with R/R at current price. The stop must be below Friday low and since there is support nearby, it will have to be below 16.60 level.
I will be watching PA next week and if we get a retrace down towards the support area, I will be happy to take a long.
If that better trade entry does not happen, just let this one go.
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As always, please use sound money and risk management in all your trades.
Silver to 18.50Context: Silver is currently trading within a Macro Range dated back from 2014 to now. This Range is based off monthly candles which suggest they are very wide apart. Currently, price is trading between 75% and 50% of the range. Recently, Silver breakout which seen a massive rise and is now facing some resistance at 17.50. There are 2 ways to get onboard the next rally.
50% FIB Retracement - Entry 16.1 , Stoploss 15.25
Await the retest of Daily Range High after current retracement - Entry 17.5 , Stoploss will be placed under low of current retracement
Target : 18.5
How i play it?
I will be putting limit orders awaiting . However, sometimes price do not retrace as much as we want so if it does , i will try to get on board as well.
Levels mentioned:
Dark Thick Green line - 75% and 50% of Macro Range
Thick Black line - Monthly level which i believe current retracement will bounce off from
SILVER USD DOLLAR HORLY CHART FOR TRADE NEXT WEEKAs we seen in chart Silver trade in support resistance levels for last few days....on next week if silver sustain above 17.629 level then we go long for the target of 18.160 and 18.657 ..... If silver break its support lave of 16.504 then we go short for the target of 15.884.
Taking Profit. 15% (SILVER)Silver looks really good on the large timeframes but I will be exiting here for a nice 15% move.
The 12hr and daily look to be retracing as we fire red in a potential rising wedge.
Will try to capture a re entry on a pullback. I want to take these profits and reinvest into some other good trend reversals that I see from other options.
Will look for the next crossover on these timeframes for re entry. If we bleed out and break support we can look for a big short out of the wedge channel.
Have an awesome day! 😁
🥇 MLT | PRO TRADERS
SILVER ($SILVER): Silver Might Not Glitter like Gold, But...✨ Drop a comment asking for an update, we do NEW setups every day! ✨
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Silver is following Gold's lead and showing us some bullish price action. With the FED money printers going, the move to precious metals is logical. Let's look for an entry to make some money off this silver uptrend.
Resource: www.wsj.com + www.cbsnews.com
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1. Fractal Trend is showing an uptrend (Aqua bar color) on the 1 hour timeframe as ETH continues to show strength.
2. With this strategy, we are looking for long setups in a uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off the recently formed S1 bullish orderblock with a target of the R1 minor pivot point.
4. Our stoploss is placed below the price action at S1 to avoid any liquidity hunt. We will exit the position if our stoploss is hit or if Fractal Trend changes color.
5. Below we can see some other levels of interest to watch if S1 cannot hold.
Good luck metal heads!
Don't Miss Out a Potential "Quiet" Silver Bull RunDespite the global economic uncertainty, SILVER movement have been rather quiet and consolidating, even though it is also a safe haven commodity just like GOLD . However, over the past week, we have seen a huge surge in the price of silver, which signals that silver is finally taking off. Hence, if manage to break out the current resistance at 17.5, we can see target price drawn to 19.0 and then 21.0.